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  • #995219
    jaz Kaur
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    i want to start my own juice shop what kind of overhead expenses i will have to bear?if i get a kiosk on lease how would i get a suitable one? what are the other insurances and covers ill have to bear? Kindly help me out because i do not have any knowledge of starting business here…i work as a manager in the juice shop a well known brand it is.
    Thankyou
    Jaz

    #1200648
    Trent Tran
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    Hi Jaz
    You probably know this but get your business plan written. No need to be the whole lot but key in your Profit and Loss Statement and Cashflow to start with
    If it is a franchise, check your contribution, recent failed of a “well-known” pizza franchisor has been taking 12.5% on sale without helping much. Similar story with coffee franchising systems.

    Your lease is extremely important. Either it is monthly or 5 years with options. Month to month is good and less risky as you could leave early if things do not pan out but bank is not likely to give you a loan. With a 5-year lease, you are liable for the whole term. Check the outgoings on top of its base rent. Any clauses which allow the landlord on-charge you for aircond maintenance, after-hour aircond charge and general repairs.

    Wages: this is a huge part, Saturday and Sunday casual loading make it extremely tough for retail, as you are aware, employees who is over 21 are entitled to a whooping $38 per hour plus Super. Yes, it is the law although it is unfair. As the owner of business, sometimes it is better to close on weekend or you have to work to save.

    Regarding to insurance, the landlord will ask you to provide anyway, generally speaking, it is circa $2000 annually for a 20 square metre in retail, with a stock value of $30,000 (I know this because I know many retailers, it might be a bit different but you could ask for multiple quotes)

    Get a quote from several accountants for your due diligence. It costs you but it will save you from trouble.

    #1200649
    Rohan@TD
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    • Total posts: 164
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    Hi Jaz,

    [USER=66994]@Grandawood[/USER] provides some good advice above. If you go down the franchise path they should be able to provide you with complete example financial data for a shop of your preferred size.

    Finding a suitable kiosk will require you to get online and out there talking to commercial real-estate agents looking for properties which can connect you with your target market. Alternatively, if you have particular shopping centers in mind, you can speak directly to their center managers to get further information. Put some research in to find what locations sell the most juice and research your local area to find locations which provide you the best match and access to your target market.

    Finding the ‘right’ location for a business like yours is key. Rent will be one of your largest overheads. Positioning your business incorrectly (poor access to your target market), with a locked in lease and high (industry relative) rent, will certainly have a huge impact on its success.

    #1200650
    shart
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    Hi Jaz,

    Congrats on taking the initiative to start your own business.
    One important thing to note as others have suggested is to maybe start off by either having weekends closed or working for only half a day. This is because of the pay rate for your employees which at times could end up costing more than what you earn for the day. This is something to keep in mind.

    Good luck!

    #1200651
    Easysmb
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    HI Jaz
    If you work as a manager in Juice Shop, then you should be able to find answers for lots of your questions if you REALLY plan to start your own business. What you need is a business mind, put yourself in the owner position and you will be able to find out the profitability and also key areas for running a profitable juice shop. Before you really understand the juice shop from your work, you should hold off your plan and get yourself ready first.

    #1200652
    jaz Kaur
    Member
    • Total posts: 3
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    hi
    thank you so much for your suggestions. Yes i want to start my own brand. I am pretty much aware of all the terms what a juice shop needs to run like stock management what stock we need, how much we need, like every single detail i even have my own set menu for the drinks but i do not know the leasing and all the other aspects like what insurances we need with a leasing space,how we should hire the staff and i know there are many hidden terms.what are the charges for getting the things copyright?Do i need to hire a lawyer for all this who can assist me? i have 6-7 months of time after which i am planning to start if all the things would be going alright by God’s grace.I need your advice my friends.
    Thank you
    Regards
    Jaz

    #1200653
    jaz Kaur
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    • Total posts: 3
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    well according to me why should i spend a lot of dollars to buy a franchisee if i know all the work and things inside. Why i should not put all my money in my own plan rather than buying a brand name so expensive.

    #1200654
    Rohan@TD
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    I’m not sure where you are based, but have a look at this guide to opening a food business. You should be able to find one for your state and possibly your local council.

    How is your business plan looking? Writing a business plan is critical as it helps fully develop your idea, ensure you cover your holistic requirements (e.g. insurance), approach planning in a structured method and communicate your idea to others – e.g. your key staff. In an industry as tricky as selling ‘food’, you need to ensure you have everything ready from the start. We’re working with a new client to help launch a new restaurant chain in Sydney, there is certainly a lot to get your head around!

    People commonly approach writing a business plan as a template filling out process, rather than a learning and development experience. As you write your plan and gain advice you’ll learn, then develop your idea and concept. So don’t worry if it seems confronting or confusing at first.

    #1200655
    Melanie – MJT Law
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    • Total posts: 55
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    Don’t forget to have a read of your current employment contract. There may be a restraint of trade on it if you are opening soon after leaving. You wouldn’t want to have to resist an injunction stopping you from opening even before you get your feet on the ground.

    Good luck, it sounds really exciting!! where are you placed perhaps we can help by buying your first juices ;)

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